Question
Download Solution PDFA sum of money invested at a certain rate of simple interest per annum amounts to Rs. 14,522 in seven years and to Rs. 18,906 in eleven years. Find the sum invested (in Rs.).
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Amount produce in 7 years = Rs.14522
Amount produce in 11 years = Rs.18906
Formula used:
Simple interest (S.I) = (P × R × T)/100
Calculation:
Amount produce in 7 years = Rs.14522
Amount produce in 11 years = Rs.18906
S.I produced in (11 - 7) = 4 years = (18906 - 14522) = Rs.4384
S.I in 1 years = 4384/4 = 1096
Principal = 14522 - (1096 × 7)
⇒ (14522 - 7672) = Rs.6850
∴ The correct answer is Rs.6850.
Last updated on Jun 2, 2025
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